Malaysia to join BRICS Bank – the NDB? Will review first, says PM Anwar

Prime Minister Datuk Seri Anwar Ibrahim said that Putrajaya have to conduct a comprehensive review into the possibility of joining the New Development Bank (NDB) of BRICS since various aspects including the required commitments and the effectiveness of participation in the institution needs to be looked into.

“Malaysia will thoroughly review the possibility of joining the NDB, taking into account various aspects, including the required commitments and the effectiveness of participation in the institution,” he said in a statement

He made the statement after holding a meeting with senior officials of the NDB – which was formerly known as BRICS Development Bank – in Rio de Janeiro, Brazil.

The Shanghai based NDB was led by its president Dilma Rousseff.

NDB a multilateral development bank established by developing countries – offers a competitive financing alternative, in line with Malaysia’s aspiration to diversify infrastructure development sources and accelerate the transition to a green economy.

It currently has 11 members, namely Brazil, Russia, India, China, South Africa, Bangladesh, the United Arab Emirates, Egypt, Algeria, Colombia, and Uzbekistan.